Faraway Airlines began operating in $2013.$ The company lost money the first year but has been profitable ever since. The company$$s taxable income $($EBT$)$ for its first five years is listed below. Each year the company$$s corporate tax rate has been $40$ percent.

Year Taxable Income

$2013-$$$4$ million

$20141$ million

$20152$ million

$20163$ million

$20175$ million

Assume that the company has taken full advantage of the Tax Code$$s carry$-$back, carry$-$forward provisions and that the current provisions were applicable in $2016.$ How much did the company pay in taxes in $2016?$

$$120,000$

$$400,000$

$$800,000$

$$1,200,000$

$$1,800,000$